Rob Reich said it, I'm analyzing it.
You can shoot a note to the former Secretary of Labor if you don't like the tagline.
The money supply did increase during covid, with the Fed printing an estimated $3T (so of course the central bank is involved in the picture). The goal of that stimulus was to hold the economy steady during the onset of COVID lockdowns. But by virtue of neoliberalism, our economy is structured to siphon money from consumers and SMBs up into the handful of corporations who own just about everything.
The Fed pulled all the right levers to print money and keep a reasonable rate of inflation (bc we always build in a little bit). It was large corporations who decided the time was right to raise prices, simply because they have the ability to.
Look a little deeper. Think beyond your Econ 101 understanding of inflation.
This absolutely is something that runs counter to our traditional model of inflation. That's why it's a story worth telling.
Fed Prints 3 Tril
How the Fed is handling COVID
Thank you for your comment, M. Highnote